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Wednesday, July 6, 2011

Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates

Culture & History

U.S. Could be Mongolia’s Third Neighbor

Sept. 19 – The United States can help Mongolia to balance the pressure from two large authoritarian neighbors, Russia and China, American eminent political scientist, Francis Fukuyama writes in his blog “Mongolia, Mining, and Malfeasance.”

“The country needs support from outside powers and particularly from the United States,” said Fukuyama without going in details about how in particular the United States could help the Northern Asian democracy squeezed between its two massive neighbors.

The American professor and his colleagues Larry Diamond and Steve Krasner from Stanford’s Center on Democracy, Development, and the Rule of Law faculty (CDDRL) traveled to Mongolia at the invitation of President Elbegdorj to teach an abridged form of the Draper Hills Summer Fellows program to a group of young Mongolians under the auspices of the Mongolian Institute for Strategic Studies. Continue reading

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Clinton Praises Mongolia, Takes Jab at China

Jul. 16 – U.S. Secretary of State Hillary Rodham Clinton suggested that those who doubted Mongolia’s excellent example of freedom and democracy should visit the country while visiting Mongolia on her Asian tour dedicated to broadening the U.S. renewed focus on the region.

She praised Mongolia for its transition from one-party communist rule to a pluralistic political system while addressing the fourth meeting of the Community of Democracies Governing Council and the International Women’s Leadership Forum in Ulaanbaatar.

“Advancing democracy, as all of us who are here at this Governing Council meeting know, is not only the right thing to do, but the smart thing as well. … And although every country’s democratic journey is unique, there are universal principles we share and that’s what I think brings us together – to support each and to help emerging democracies succeed.” Continue reading

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Tyrannosaurus Bataar may Come Back to Mongolia

Jun. 26 – The 70-million-year-old skeleton of the Tyrannosaurus Bataar, (an Asian cousin of North America’s tyrannosaurus rex) that was discovered in Mongolia more than 65 years ago, will be seized from the Dallas-based Heritage Auctions by the end of this week, according to the U.S. authorities.

A federal judge in New York has signed a warrant that allows the U.S. Department of Homeland Security to seize the skeleton, which now is stored in New York. Continue reading

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Mongolia and South Korea to Ease Visa Process

Jun. 6 – Mongolia and South Korea signed an agreement to streamline the visa process for each other’s citizens in a bid to boost people-to-people exchanges and economic cooperation between them, officials said.

The agreement was signed in Seoul last Thursday after talks between Mongolian Foreign and Trade Minister Gombojav Zandanshatar and his South Korean counterpart Kim Sung-Hwan. Continue reading

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Mongolia Ranked 81st in Economic Freedom Index

Jan. 23 – Mongolia’s economic freedom score is 61.5, making its economy the 81st freest in the world according to the recently published 2012 Index of Economic Freedom released by The Wall Street Journal and The Heritage Foundation think tank.

The nation’s overall score is 2.0 points higher compared with last year’s score of 59.5 which, according to the report, is mainly reflecting increased scores in fiscal freedom and government spending. Fiscal freedom received a score of 88.5, while government spending has been given a 62.8 rating.

Mongolia is ranked 12th out of 41 countries in the Asia-Pacific region, and its overall score is above the regional average. Continue reading

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Indian President to Visit Mongolia, Religious Ties to be Strengthened

Indian and Mongolian Monks at Khamariin Khiid, an Indian-Mongolia partnership

Jul. 21 – The President of India, Mrs. Pratibha Devisingh Patil, will pay an official state visit to Mongolia from July 22nd. During her visit, the Foreign Investment and Foreign Trade Agency, the Confederation of Indian Industries, the Federation of Indian Chambers of Commerce and Industry, and the Associated Chambers of Commerce and Industry of India will jointly organize a business forum on July 29. India has a long relationship with Mongolia, despite the apparent distance. Tibetan Buddhism is still a strong influence in many Mongolians’ lives, and the resurgence of religious beliefs in Mongolia has leaped since the withdrawal of the Soviet Union from the country in 1992.

Famously, the 19th Kushok Bakula Rinpoche was appointed Indian Ambassador to Mongolia in 1990. Following Mongolian independence in 1992, he was instrumental in reviving Buddhism in Mongolia, arranging the Dalai Lama’s visit to Mongolia in 1979, which resulted in an agreement for monks from Mongolia to come to India to study Buddhism. During his service as India’s ambassador to Mongolia he encouraged more Mongolian monks to come to India and study at the Institute of Buddhist Dialectics in Dharamsala, in Karnataka at the Drepung Gomang in Mundgod or the Sera Monastery in Bylakuppe, and in other places. Due to his efforts, the number of scholarships for Mongolians to study in India expanded from just a few to over 100. Continue reading

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Welcome to Mongolia Briefing!

Jul. 7 – We welcome new and existing readers to our new Mongolia Briefing web site. Founded on the back of increased interest in the economic and business development of the country, we aim this site to be a major source of updated Mongolian commercial news, foreign investment and legal, regulatory, tax and financial updates about this exciting new emerging Asian economy. With a GDP growth of 12 percent expected this year, Mongolia is already outstripping most Asian nations in GDP development, and with that figure expected to reach 30 percent by 2013, the changes that will happen in this country will both be rapid and far reaching. It is our goal to capture these and to provide timely, accurate and interesting intelligence about the country and its opportunities to the global business community. Continue reading

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Mongolia Expels Hundreds of Chinese Truck Drivers

Jun. 17 – 2point6billion.com has unconfirmed reports from Mongolia’s South Gobi region, home to much of the nation’s mining industry, that hundreds of Chinese truck drivers have been turned back to the China border.

There has been no official commentary on the issue, however we understand that it is linked to three main aspects concerning cross border transport and China-Mongolia relations. At the heart of the matter is the current status of both nations concerning their recognition of cross border transport protocols as determined by the international organization Transports Internationaux Routiers (TIR). Continue reading

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